0000916641-01-501282.txt : 20011009
0000916641-01-501282.hdr.sgml : 20011009
ACCESSION NUMBER: 0000916641-01-501282
CONFORMED SUBMISSION TYPE: S-8
PUBLIC DOCUMENT COUNT: 4
FILED AS OF DATE: 20011002
EFFECTIVENESS DATE: 20011002
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: PITTSTON CO
CENTRAL INDEX KEY: 0000078890
STANDARD INDUSTRIAL CLASSIFICATION: BITUMINOUS COAL & LIGNITE MINING [1220]
IRS NUMBER: 541317776
STATE OF INCORPORATION: VA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: S-8
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-70772
FILM NUMBER: 1750803
BUSINESS ADDRESS:
STREET 1: 1801 BAYBERRY COURT
STREET 2: P O BOX 18100
CITY: RICHMOND
STATE: VA
ZIP: 23058-4229
BUSINESS PHONE: 8045533681
MAIL ADDRESS:
STREET 1: 1801 BAYBERRY COURT
STREET 2: P O BOX 18100
CITY: RICHMOND
STATE: VA
ZIP: 23226-8100
S-8
1
ds8.txt
FORM S-8
Registration No. 333-_____
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
------------
The Pittston Company
(Exact name of registrant as specified in its charter)
VIRGINIA Issuer: 54-1317776
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
1801 Bayberry Court
P. O. Box 18100
Richmond, Virginia 23226-8100
(Address of principal executive offices)
------------
The Pittston Company
Non-Employee Directors' Stock Option Plan
(Full title of the plan)
------------
AUSTIN F. REED
Vice President, General Counsel and Secretary
The Pittston Company
1801 Bayberry Court
P. O. Box 18100
Richmond, Virginia 23226-8100
(804) 289-9600
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
With a copy to:
Allen C. Goolsby, Esquire
Hunton & Williams
Riverfront Plaza, East Tower
951 East Byrd Street
Richmond, Virginia 23219
(804) 788-8200
------------
CALCULATION OF REGISTRATION FEE
===================================================================================================================================
Proposed maximum Proposed maximum
Title of securities Amount to be offering price aggregate Amount of
to be registered registered per share offering price registration fee
-----------------------------------------------------------------------------------------------------------------------------------
Pittston Brink's Group 294,403 shares $17.785* $5,235,957.355* $1,309.00*
Common Stock, par value $1.00 per
share (including associated
Rights)
===================================================================================================================================
(*) Calculated pursuant to Rule 457(c) of the Securities Act of 1933, as amended (the "Securities Act") based on the average of
the high and low prices on the New York Stock Exchange on October 1, 2001.
===================================================================================================================================
THE PITTSTON COMPANY
This Registration Statement covers 294,403 additional shares of Pittston
Brink's Group common stock, par value $1.00 per share (including associated
rights) ("Common Stock"), of The Pittston Company (the "Company"), issuable
pursuant to The Pittston Company Non-Employee Directors' Stock Option Plan (the
"Directors' Plan"). The Company initially registered the issuance of 200,000
shares of Common Stock in connection with the Directors' Plan on its
Registration Statement on Form S-8 (Registration No. 33-21393) as filed with the
Securities and Exchange Commission (the "Commission") on April 22, 1988. The
contents of Registration Statement No. 33-21393 are incorporated by reference
herein.
Pursuant to Rule 429, the Prospectus related to shares of Common Stock
registered pursuant to this Registration Statement for the Directors' Plan also
relates to shares of Common Stock registered pursuant to Registration Statement
No. 33-21393.
II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by The Pittston Company (the "Company")
with the Securities and Exchange Commission (the "Commission") pursuant to the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), are hereby
incorporated by reference into this Registration Statement:
(a) The Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2000;
(b) The Company's Quarterly Report on Form 10-Q for the period ended
March 31, 2001; and
(c) The Company's Quarterly Report on Form 10-Q for the period ended
June 30, 2001.
Additionally incorporated by reference into this Registration
Statement is the Description of Common Stock, attached as Exhibit 1 to the
Company's Registration Statement on Form 8-A filed with the Commission as of
December 4, 1995 (Commission File No. 1-9148).
In addition to the foregoing, all documents subsequently filed by the
Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act,
prior to the filing of a post-effective amendment which indicates that all
securities registered hereunder have been issued or which deregisters all
securities offered then remaining unsold, shall be deemed incorporated by
reference into this Registration Statement and to be a part hereof from the date
of the filing of such documents. Any statement, including financial statements,
contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained herein or in any
other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such statement so
modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Registration Statement.
Item 5. Interests of Named Experts and Counsel.
Certain legal matters regarding shares of Common Stock will be passed
upon for the Company by Austin F. Reed, Vice President, General Counsel and
Secretary of the Company. Mr. Reed beneficially owns 97,351 shares of Common
Stock.
Item 8. Exhibits.
The following exhibits are filed as part of this Registration
Statement:
Exhibit No.
-------------
4.1 Restated Articles of Incorporation of the Company, dated as of
March 16, 1998 (incorporated by reference to Articles of
Correction of the Company filed as Exhibit 3(i) to the Company's
Quarterly Report on Form 10-Q, filed on May 15, 1998 (Commission
File No. 1-9148)).
4.2 Bylaws of the Company, as amended through July 14, 2000
(incorporated by reference to Exhibit 3(b) of the Company's
Quarterly Report on Form 10-Q, filed on August 8, 2000
(Commission File No. 1-9148)).
2
Exhibit No.
-----------
4.3 Amended and Restated Rights Agreement, dated as of January 14,
2000 between the Company and BankBoston, N.A., as Rights Agent
(incorporated by reference to Exhibit 1 to the Company's
Registration Statement on Form 8-A/A, dated January 14, 2000
(Commission File No. 1-9148)).
4.4 Form of Right Certificate for the Brink's Group Rights
(incorporated by reference to Exhibit A of Exhibit 1 to the
Company's Registration Statement on Form 8-A/A, dated January 14,
2000 (Commission File No. 1-9148)).
4.5 The Pittston Company Non-Employee Directors' Stock Option Plan,
as amended and restated as of January 14, 2000 (incorporated by
reference to Exhibit 10(e) of the Company's Annual Report on Form
10-K filed on March 24, 2000 (Commission File No. 1-9148)).
5 Opinion of Austin F. Reed, Esq., regarding Common Stock.
23.1 Consent of Austin F. Reed, Esq. (included as part of Exhibit 5
to this Registration Statement).
23.2 Consent of Independent Auditors.
24 Powers of Attorney.
3
SIGNATURES
The Registrant
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Post-Effective
Amendment No. 1 to the Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Richmond, Commonwealth of
Virginia, on the 27th day of September, 2001.
THE PITTSTON COMPANY
By: /s/ AUSTIN F. REED
---------------------------------------------
Austin F. Reed
Vice President, General Counsel and Secretary
4
Pursuant to the requirements of the Securities Act of 1933, this Post-
Effective Amendment No. 1 to the Registration Statement has been signed by the
following persons in the capacities and on the date indicated.
Signature Title Date
--------- ----- ----
/s/ MICHAEL T. DAN Chairman of the Board, September 27, 2001
---------------------- President and Chief
Michael T. Dan Executive Officer
/s/ ROBERT T. RITTER Vice President and Chief September 27, 2001
---------------------- Financial Officer
Robert T. Ritter (Principal Financial Officer
and Principal Accounting Officer)
* Director September 27, 2001
----------------------
Roger G. Ackerman
* Director September 27, 2001
-----------------------
Betty C. Alewine
* Director September 27, 2001
-----------------------
James R. Barker
* Director September 27, 2001
-----------------------
Marc C. Breswalsky
* Director September 27, 2001
-----------------------
James L. Broadhead
* Director September 27, 2001
-----------------------
William F. Craig
* Director September 27, 2001
-----------------------
Gerald Grinstein
* Director September 27, 2001
-----------------------
Ronald M. Gross
* Director September 27, 2001
-----------------------
Carl S. Sloane
*By: /s/ AUSTIN F. REED
--------------------------------
Austin F. Reed, Attorney-in-Fact
5
EXHIBIT INDEX
Exhibit No.
-------------
4.1 Restated Articles of Incorporation of the Company, dated as of
March 16, 1998 (incorporated by reference to Articles of
Correction of the Company filed as Exhibit 3(i) to the Company's
Quarterly Report on Form 10-Q, filed on May 15, 1998 (Commission
File No. 1-9148)).
4.2 Bylaws of the Company, as amended through July 14, 2000
(incorporated by reference to Exhibit 3(b) of the Company's
Quarterly Report on Form 10-Q, filed on August 8, 2000
(Commission File No. 1-9148)).
4.3 Amended and Restated Rights Agreement, dated as of January 14,
2000 between the Company and BankBoston, N.A., as Rights Agent
(incorporated by reference to Exhibit 1 to the Company's
Registration Statement on Form 8-A/A, dated January 14, 2000
(Commission File No. 1-9148)).
4.4 Form of Right Certificate for the Brink's Group Rights
(incorporated by reference to Exhibit A of Exhibit 1 to the
Company's Registration Statement on Form 8-A/A, dated January 14,
2000 (Commission File No. 1-9148)).
4.5 The Pittston Company Non-Employee Directors' Stock Option Plan,
as amended and restated as of January 14, 2000 (incorporated by
reference to Exhibit 10(e) of the Company's Annual Report on Form
10-K filed on March 24, 2000 (Commission File No. 1-9148)).
5 Opinion of Austin F. Reed, Esq., regarding Common Stock.
23.1 Consent of Austin F. Reed, Esq. (included as part of Exhibit 5
to this Registration Statement).
23.2 Consent of Independent Auditors.
24 Powers of Attorney.
6
EX-5
3
dex5.txt
OPINION OF AUSTIN REED
Exhibit 5
---------
[The Pittston Company Letterhead]
September 27, 2001
The Pittston Company
1801 Bayberry Court
P. O. Box 18100
Richmond, VA 23226-8100
Registration Statements on Form S-8
The Savings-Investment Plan of The Pittston Company and Its Subsidiaries,
The Pittston Company 1988 Stock Option Plan,
Key Employees' Deferred Compensation Program of The Pittston Company,
1994 Employee Stock Purchase Plan of The Pittston Company and
The Pittston Company Non-Employee Directors' Stock Option Plan
--------------------------------------------------------------
Ladies and Gentlemen:
As General Counsel of The Pittston Company (the "Company"), I have acted as
counsel to the Company in connection with Post-Effective Amendment No. 1 to the
Registration Statement on Form S-8 for The Savings-Investment Plan of The
Pittston Company and Its Subsidiaries (the "Savings-Investment Plan"), Post-
Effective Amendment No. 2 to the Registration Statement on Form S-8 for The
Pittston Company 1988 Stock Option Plan (the "Stock Option Plan"), Post-
Effective Amendment No. 1 to the Registration Statement on Form S-8 for the Key
Employees' Deferred Compensation Program of The Pittston Company (the "Deferred
Compensation Program") and the 1994 Employee Stock Purchase Plan of The Pittston
Company (the "1994 Stock Purchase Plan") and the Registration Statement on Form
S-8 for The Pittston Company Non-Employee Directors' Stock Option Plan (the
"Directors' Plan"), (collectively, the "Registration Statements"), being filed
under the Securities Act of 1933, as amended (the "Act"), on or about the date
of this letter to register (i) 249,179 additional shares of Pittston Brink's
Group Common Stock, par value $1.00 per share, including associated Rights
("Common Stock"), which may be issued from time to time pursuant to the Savings-
Investment Plan, (ii) 2,377,084 additional shares of Common Stock which may be
issued from time to time pursuant to the Stock Option Plan, (iii) 186,155
additional shares of Common Stock which may be issued from time to time pursuant
to the Deferred Compensation Program, (iv) 234,905 additional shares of Common
Stock which may be issued from time to time pursuant to the 1994 Stock Purchase
Plan and (v) 294,403 additional shares of Common Stock which may be issued from
time to time pursuant to the Directors' Plan.
I am familiar with the Registration Statements and the Exhibits thereto. I,
or attorneys under my supervision, have also examined originals or copies,
certified or otherwise, of such other documents, evidence of corporate action
and instruments, as I have deemed necessary or
advisable for the purpose of rendering this opinion. As to questions of fact
relevant to this opinion, I have relied upon certificates or written statements
from officers and other appropriate representatives of the Company and its
subsidiaries or public officials. In all such examinations I have assumed the
genuineness of all signatures, the authority to sign and the authenticity of all
documents submitted to me as originals. I have also assumed the conformity to
the original of all documents submitted to me as copies.
Based upon the subject to the foregoing, I am of the opinion that:
1. The Company is a corporation duly incorporated, validly existing and
in good standing under the laws of the Commonwealth of Virginia.
2. The shares of Common Stock have been duly authorized and, when
offered and sold as described in the Registration Statements, will be legally
issued, fully paid and nonassessable.
I hereby consent to the use of my name in the Registration Statements and
to the filing, as an exhibit to the Registration Statements, of this opinion.
In giving this consent, I do not hereby admit that I am in the category of
persons whose consent is required under Section 7 of the Act, or the rules and
regulations of the Securities and Exchange Commission.
Very truly yours,
/s/ Austin F. Reed
Austin F. Reed
Vice President, General Counsel
and Secretary
EX-23.2
4
dex232.txt
CONSENT OF INDEPENDENT AUDITORS
Consent of Independent Auditors
We consent to incorporation by reference in the post-effective amendments to the
registration statements on Form S-8 of The Pittston Company for The Pittston
Company 1988 Stock Option Plan, the Key Employees' Deferred Compensation Program
of The Pittston Company and the 1994 Employee Stock Purchase Plan of The
Pittston Company, and the Savings Investment Plan of The Pittston Company and
Its Subsidiaries and in the registration statement on Form S-8 for The Pittston
Company Non-employee Directors' Stock Option Plan, of our report dated February
1, 2001 relating to the consolidated financial statements listed in the Index to
Financial Statements and Schedules in Item 14(a)1 included in the 2000 Annual
Report on Form 10-K of The Pittston Company, which report appears in the 2000
Annual Report on Form 10-K of The Pittston Company.
Our report refers to a change in the method of accounting for nonrefundable
installation revenues and the related direct costs of acquiring new subscribers
in 2000 as a result of the implementation of Staff Accounting Bulletin No. 101,
Revenue Recognition in Financial Statements.
Our report also refers to a change in the method of accounting for derivative
instruments and hedging activities in 1998 as a result of adopting Statement of
Financial Accounting Standards No. 133, Accounting for Derivative Instruments
and Hedging Activities.
/s/ KPMG, LLP
Richmond, Virginia
September 26, 2001
EX-24
5
dex24.txt
POWERS OF ATTORNEY
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
Roger G. Ackerman
/s/ Roger G. Ackerman
---------------------
Roger G. Ackerman
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 3rd day of
November, 2000.
Betty C. Alewine
/s/ Betty C. Alewine
--------------------
Betty C. Alewine
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
James R. Barker
/s/ James R. Barker
-------------------
James R. Barker
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
Marc C. Breslawsky
/s/ Marc C. Breslawsky
----------------------
Marc C. Breslawsky
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
James L. Broadhead
/s/ James L. Broadhead
----------------------
James L. Broadhead
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
Gerald Grinstein
/s/ Gerald Grinstein
--------------------
Gerald Grinstein
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
William F. Craig
/s/ William F. Craig
--------------------
William F. Craig
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
Ronald M. Gross
/s/ Ronald M. Gross
-------------------
Ronald M. Gross
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the undersigned does hereby constitute and
appoint Michael T. Dan, Austin F. Reed and Robert T. Ritter, and each of them
severally (with full power of substitution), his true and lawful attorney-in-
fact and agent to do any and all acts and things and to execute any and all
instruments which, with the advice of counsel, any of said attorneys and agents
may deem necessary or advisable to enable The Pittston Company, a Virginia
corporation (the "Company"), to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and
Exchange Commission in respect thereof, in connection with the preparation and
filing of the Company's Registration Statement on Form S-8 with respect to The
Pittston Company Non-Employee Directors' Stock Option Plan, including
specifically, but without limitation, power and authority to sign his name as an
officer and/or director of the Company, as the case may be, to the Registration
Statement on Form S-8 or any amendments or post-effective amendments thereto;
and the undersigned does hereby ratify and confirm that all said attorneys shall
do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of
October, 2000.
Carl S. Sloane
/s/ Carl S. Sloane
------------------
Carl S. Sloane